Top News
Rise48 Pays $21.7Mln for Phoenix Apartment Property
Commercial Real Estate Direct Staff Report Rise48 Equity has paid $21.7 million, or $200,925/unit, for the 108-unit Northern apartment property in Phoenix. The Scottsdale, Ariz., investment manager bought the property, the former Solano Pines at 17840 North Black Canyon Highway,...
New York Life, PGIM Lend $332Mln for Chicago Apartments
New York Life Insurance Co. and PGIM Real Estate have provided $332 million of senior and mezzanine financing against the 800-unit NEMA Chicago apartment building across from Grant Park in Chicago. New York Life provided $275 million of senior financing...
$115.5Mln Loan Arranged for Construction of Colo. Apartments
Multi-Housing News Concord Summit Capital has arranged $115.5 million of financing for the construction of the 457-unit Collins at Union Park apartment property in Fort Collins, Colo. The property is being developed by Livmark Communities of Windsor, Colo, on a...
Bethlehem, Pa., Apartments Sell for $97Mln; Get $67.9Mln Freddie Mac Financing
Boyd Wilson LLC has paid $97 million, or $252,604/unit for the 384-unit Landings apartment property in Bethlehem, Pa. The Lancaster, Pa., investment manager purchased the property, at 1818 Catasauqua Road, from an investor group, Valley Park South LLC. To fund...
Acadia Realty Offering Chicago Retail Properties for Sale
Crain's Chicago Business Acadia Realty Trust is offering for sale the five retail buildings with 103,526 square feet at 2731 North Clark St. and 639, 662, 613-623 and 651-671 West Diversey Parkway in Chicago. The New York REIT has hired...
CMBS Delinquency Numbers See Big Improvement in June
Commercial Real Estate Direct Staff Report A total of $3.49 billion of previously delinquent CMBS loans were cured, or made performing once again last month, contributing to the 3.7% reduction in the overall volume of loans that are now...
Los Angeles-Area Apartment Property Sells for $132.5Mln
A venture of Eagle Real Estate Partners and Vistria Group has paid $132.5 million, or $329,601/unit, for the 402-unit Crystal View Apartments in the Los Angeles suburb of Garden Grove, Calif. The venture - Eagle is based in Los...
JPMorgan Provides $160Mln Facility for Self-Storage Venture
JPMorgan Chase Bank has provided a $160 million credit facility for Safely Store Self Storage, which is backed by Caisse de depot et placement du Quebec, or simply La Caisse. The facility, arranged by JLL Capital Markets, is comprised...
Wells Fargo Lends $125Mln Against Denver Mixed-Use Property
ConnectCRE Wells Fargo Bank has provided $125 million of financing against Larimer Square, a 513,000-square-foot mixed-use property in downtown Denver that's owned by Asana Partners of Charlotte, N.C., which bought it in 2020 for $92.5 million. The four-story property,...
Goodwill Pays $19.75Mln for Government-Leased Building in Ga.
Goodwill Industries International has paid $19.75 million, or $179/sf, for the 110,330-square-foot office building at 761 Wheaton St. in Savannah, Ga. The five-story building was purchased from an investor group led by Margaret Bowen of Alpharetta, Ga., which was...
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